ABSTRACT
All too often a project, product, process, system, or technique tends to have scope creep. Before long the rebaselined scope budget exceeds the allowed or intended budget. These types are excellent candidates for a VM study. Other factors can contribute to cost overruns besides scope. Some examples of cost overruns stem from escalation, change in objectives to be accomplished, market demand, labor shortages, material shortages, cost of development of the property, weather conditions, specification changes, rule or federal mandates/changes, agency treatment requirements, environmental regulations, changes from previous or future contracts, and management decisions.
